Private property rights, legal enforcement and economic prosperity: The fall of early civilized China and the rise of United Kingdom in 18th-19th century

Abstract

Having a glance at the historical sites such as Bing Ma Yung, Great Wall, Forbidden City, watching movies of history about China, flipping pages of stories about ancient China, we can never deny that China was once the most powerful nations. Nevertheless, by the time we are soaking ourselves in these fairy tales, industrial revolutions in countries miles away awoke us: we are no longer the most affluence countries. Well developed private property rights and legal system has provided a superb environment for inventors. Industrial revolutions in UK have broken the dreams of many Chinese.